BARCELONA, Spain, Sept. 27, 2022 /PRNewswire/ -- SeQura the leading BNPL and flexible payments platform in Spain and southern Europe, closed an asset-backed agreement with Citi of up to €150m of senior financing. Existing financing partner Chenavari, a specialized credit investor based in London, continues its support for SeQura, bringing the total financing potential up to €200m.
This new facility will increase the company's overall funding capacity and support SeQura's international expansion across Southern Europe, as well as the development and launch of new, innovative payment solutions. The new agreement significantly reduces SeQura's funding cost and will allow SeQura to further its investment into strategic and high-growth initiatives to support our mission of being the preferred partner to the merchants.
"We are delighted to enter into a new financing with Citi, one of the largest and most renowned banks in the world, which will support our focus on building a sustainable business model and enables us to continue to bring innovative payment solutions for both merchants and shoppers." Markus Jennemyr, CFO of SeQura
In contrast with most venture capital-funded fintechs and payment startups worldwide, SeQura has proven to have a sustainable and profitable business model in the BNPL and flexible payments space. The company, which was bootstrapped until the end of 2021, has rapidly grown at an average of 100% per year over the last 5 years and is forecasting a €100m revenue run-rate by the end of 2023.
The company's mission to be the best partner for merchants' growth, becomes even more relevant in the present economic context, where consumers' diminished disposable income is slowing down e-commerce growth "One size-fits-all BNPL solutions are not enough in this market, merchants, and shoppers, need a diverse set of flexible payment solutions tailored to their sector and business. Our products look beyond the checkout and cover key touchpoints of the customer journey to further optimize merchants' conversion rates and buying recurrence." adds Markus Jennemyr.
About SeQura
SeQura is a leading fast growing FinTech company based in Barcelona, providing digital flexible payment solutions, with a geographical focus on Southern Europe and Latin America. The vision of the company is to be the preferred payment platform for both merchants and consumers. The company has several thousands of merchants and offers all payment methods; "Pay Now", "Buy Now Pay Later" or "Pay in 3". A strong focus to generate a state-of-the-art experience for the consumers has led the company to an NPS rating of 87 by its more than 1.5 million Shoppers. https://www.sequra.com/en | LinkedIn: https://www.linkedin.com/company/sequra/
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Chenavari
Founded in 2008, Chenavari Investment Managers is an employee-owned asset management firm specializing in European credit across segments such as corporate and financial bonds, asset-backed securities, and private debt origination. Our independent, entrepreneurial team utilizes a fundamental, value-based approach to identify investments within our areas of expertise. Additional information: https://www.chenavari.com/ | LinkedIn: https://www.linkedin.com/company/chenavari-financial-group/
Further information:
CARPE DIEM COMUNICACIÓN
Ricardo Malumbres.
+34 607 585 888
rmalumbres@carpediemcom.es
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